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and future impact of virtual currency.mpact of my friend senator merkley and ir also appreciate the work that senator heller has done. i know senator kirk is going to be joining us as we're going to do this a little different because this is a joint subcommittee hearing. i will chair the first panel. and senator merkley will chair the second panel.s the uses of virtual currencies have proliferated in recent years. my hope for this hearing is to educate the senate members and m others. and start the education of the public about virtual currencies, including their potential and drawbacks. i also hope to explore how regulators are keeping up with g this technological innovation to protect consumers. and i've gotpr a full statement here, but i actually have to he acknowledge that, you know, i'vc been following this kind of development of bitcoins for the last few months.hs. and i think i'm only starting to wrap my head around the ntial potential up side, down side, regulatory issues, monetary policy issues, taxation issues, consumer protection issues, tha this innovation represen
the bill up. it is a tribute to the leadership of the bill's sponsors, senator jeff merkley and senator mark kirk, that we have now reached 60 votes. actually, as of just last week, we only had about 57, 58. and another person came on. then another person this morning announced -- senator heller of nevada announced his support for the bill and that puts us as 60 votes. so we have the 60 votes. and i'm predicting, mr. president, we'll get more than 60 votes. once you reach that critical mass, i think people here will understand that this is a ste step -- another step in the direction of opening america up. and making our society more inclusive rather than exclusive. senator kirk, who is managing the bill for the minority, has been a supporter of this legislation before he was elected to the house. senator merkley on our side, who is the sponsor of the bill, was the leader of this effort in his state of oregon when he was in the organizinthe oregon state l. so both of them, one republican, one democrat, have been champions of this bill since before they even came here to congress. they bo
. merkley: i so much appreciate the comments of my colleague from delaware, first speaking to the importance of rebuilding our manufacturing sector, of creating living wage jobs, how important that is to building the middle class, providing the foundation for families to thrive, and then speaking to the core issue we're debating today, that of ending significant discrimination against millions of american citizens. the words were well-spoken, i say to the senator from delaware. thank you for your advocacy that will make this nation work better for so many of our fellow citizens. mr. president, this issue of freedom from discrimination is a core issue of freedom. it's a core issue of liberty, and it goes right to the heart of the founding of this country. our founders were chafing under the heavy hand, often from the land that they came from across the ocean. they wanted to be able to forge their own world where they were able to participate fully in society, and so liberty and freedom became right at the heart of our founding documents. our declaration of independence says in the second para
like oregon, senator merkley and the presiding officer from ohio, senator collins who is still on the floor, all your states have wonderful national parks and it turns out the top destination, top tourist destination for people who come to the united states from other countries is our national parks. and we don't have one in delaware. we want one. but in the meantime our state parks have filled the gap and we have some state parks we're real proud of. one of the guys who has worked very hard to make them something we can be proud of is chazz hawkins. he has passion with the parks and recreation team that have included hundreds of people over the age of 35 -- that have included hundreds of people over the past 35 years. we in the state of delaware are grateful for everything he has done to protect and preserve our state's beauty and history. on behalf of senator chris coons, my colleague here in the senate, on behalf of john carney, our lone congressman over in the house, and whee wholeheartedly think thank chazz pour his service to the state of delaware. he's improved the qieft
the first half. a senator: mr. president? the presiding officer: the senator from oregon. mr. merkley: thank you, mr. president. i rise today along with my colleague from new mexico to protest the paralysis that has kept the senate from confirming well-qualified nominees to do their jobs. the u.s. senate provides the opportunity for all of us to weigh in under our constitutional role of advice and consent. advice and consent regarding nominations to the executive branch and to the judicial branch by the president. now, everyone in this body agrees that the senate should under this responsibility serve as a significant check on the quality of presidential nominations. the quality of nominations or nominees for the court and for executive positions, and i certainly share that sentiment that the senate should provide this significant check on quality. the senate should vet nominees. we should question them. we should debate them, and then we should vote on whether to confirm or reject them. what was absolutely clearer, however, is that when advice and consent becomes block and destroy, then the
ron widen and jeff merkley, both from the list, also joe manchin, from the land of smack dab in the middle. john mccain is never going to vote for something like that. kelly ayotte is never going to vote for something like that. guess who might say yes? bedfellows are getting stranger than ever on subjects like this. the senate, now as of this week is going to try to stop keeping guantanamo open. might they actually try to put an end to the war? joining me now is democratic senator jeff merkley of oregon, senator, thank you for joining us. >> you're welcome, rachel, great to be with you. >> so it seems to me you are on to something here, even though it may be unpopular. do you think the senate has changed enough to support this idea? >> well, i absolutely do. the idea that we'll extend this war another ten years, make a commitment to have perhaps 7 to 12,000 troops during that period. to spend at least another $50 million, that is understating it by a factor of two. to do it without any form of a congressional dialogue to say yes, this makes sense, i think it is a bipartisan
for the interview is senator jeff merkley of oregon. he introduced the nda legislation in the current congress and led the effort to pass it in the senate. senator, thank you so much for being with us. nice to have you here. >> you're welcome, rachel. it's great to be with you. >> so, 17 years ago was the last time this nondiscrimination issue was voted on in the senate. it lost by one vote 17 years ago. why are you on a path to pass it in the senate right now, do you think? >> well, the difference now is that that vote 17 years ago, we only needed a simple majority or 50 plus the vice president. we lost 49-50 because one senator was absent. and now we have to get 60 votes. both to close debate to get on the bill. and i should clarify, tonight we just broke the filibuster to get on to the bill. we'll have to break another filibuster to get to a final vote. >> oh, wow. >> so, we have amendments in between. we're not there yet. but i do hope that what happens this week in the senate will provide the momentum that we'll finally as a nation say you should be able to get hired and not get fired wit
, this discussion about filibuster reform. starting with you, senator merkley. >> you bet. this is all about to restore the constitutional framework of the balance between the benches of government. the senate is supposed to service advice an consent on nominations but it's not supposed to be able to systematically undermine the executive branch and the judicial branch and what brought this to a head today was a decision by the minority that they were going to block any nominee-- no matter qualifications, no matter their high character-- if the president -- if they were nominated by president obama. and that type of approach was just completely unacceptable. >> ifill: senator johnson, on the losing side of this today, is this that the way you saw, is that the way you saw, about president obama's nominees? >> no, again gwen, that is very sad day for the senate. basically senator harry reid and his colleagues on the democrat side have basically broken the rules of the senate to change the rules and this wasn't about president obama no, ma'am getting his nominations. the vast majority-- well in
you so much. mr. cotney. >> did you.merkle good afternoon, chairman warner and merkley, ranking members kirk and heller, members of the submit. my name is david cotney and i serves t as the commissioner of banks for the commonwealth of massachusetts. it is my pleasure to testify before you today on be-half behalf of the conference of ou state supervisor.hold i thank you forin holding this n hearing today to address the risks and benefits of virtual currency. theri risks of virtual currency include consumer protection, payment systems, national ity, m security, money laundering, and other illicit activities. the potential benefits are also differ.fits are speed and efficiency, lower transaction costs, and providin an outlet for the unbanked and underbanked. with these evolving payment technologies states are exploring the connection between existing money transmitter regulation and virtual currencies. state regulators have long supervised money transmitters to protect consumers and preserve national security and lawnete enforcement interests. state regulators are talking with ind
: the clerk will call the roll. quorum call: mr. merkley: madam president? the presiding officer: the senator from oregon. mr. merkley: madam president, i ask the quorum call be lifted. the presiding officer: without objection. mr. merkley: thank you. i rise simply to ask unanimous consent that my intern who is shadowing me today, chloe becker, be accorded full privileges of the floor for the balance of the day. the presiding officer: without objection. mr. merkley: thank you very much, madam president. and i recognize -- i ask the absence of a quorum. the presiding officer: the clerk will call the roll. quorum call: quorum call: the presiding officer: the senator from vermont. mr. leahy: mr. president, i ask consent the call of the quorum be dispensed with. the presiding officer: without objection. mr. leahy: mr. president, the budget conferees are working to reach agreement on the fiscal year 2014 budget. i want to complement senator murray for the great work she has done on this. and i would join those who have expressed strong support for their efforts. we all know the consequences will b
? the presiding officer: the senator from oregon. mr. merkley: thank you. i ask unanimous consent to have a short colloquy with the junior senator from arizona and the senator from wisconsin. the presiding officer: without objection. mr. merkley: thank you very much. i appreciate so much the comments of my colleague from arizona on the challenges inherent in getting our budget under control, and i particularly appreciated over the last few days the conversation we've had about the employment nondiscrimination act. and i would like to say that you have -- the senator from arizona has brought particular value in expressing concerns about how we make sure businesses have the guidance that they will need to implement this act effectively and that particularly, as this act embraces an area and that is transgender discrimination, that was not a part of the act that was considered in the house of representatives. mr. flake: i thank the gentleman from oregon. i appreciate the work that -- that his office did with my office this week to try to arrive at language that we could put into an amendment. we wer
the floor. mr. merkley: mr. president? the presiding officer: the senator from oregon. mr. merkley: i ask to speak for up to ten minutes as in if in morning business. the presiding officer: without objection. mr. merkley: i ask unanimous consent for my intern, bruce layman to have the privileges of the floor for the balance of the day. the presiding officer: without objection. mr. merkley: thank you very much. i rise, mr. president, to address an issue that should be of concern to all americans and that is the advice and consent function of the u.s. senate regarding nominations. this is the critical check envisioned by our founders in which the president has the power to nominate for the executive branch positions and for judicial nominees, and in the senate held responsible to provide a check to make sure there are not outrageous nominees that are placed in positions and that is the advice and consent function. which throughout our history has basically been a simple majority function with very rare exception. now, this issue comes up at this moment because two weeks ago, a minority of t
. >> thank you so much. >> thank you. good afternoon. chairman warner and merkley. my name is david cotney and it is my pleasure to testify before you today on behalf of the conference supervisors. i thank you for holding this hearing today to address the risk of virtual currency. including payment protection system, national security, money laundering and other ill ligs sit activities. the potential benefits are also diverse. providing an out link to the unbanked and under-banked. state regulators have long-supervised money transmiters to protect consumers and preserve national security and law enforcement interests. state regulators are talking with industry and other regular lay toshs about evolving methods of moving funds. this includes virtual currencies and peer-to-peer transactions. state regulators believe that an open dialogue is key to accomplishing the goal of determining the appropriate level of oversight and supervision. emerging payment technologies are at their core of the electronic movement of other people's money. this is not unlike the activities of money transmitters fo
for your testimony. >> thank you for the opportunity. >> i'll turn to senator merkley? >> because of the time, i'm going to start introducing as you come up,so feel free to take your seats, quickly. i'll start with paul smoltzer. in this role, he led bit's work in promoting the safety and soundness through best practices for developing secure infrastructures, products and services. second, we have professor sarah jane hughes. she is the university scholar at indiana vumpbt. for the past 25 years, professor hughes has taught payments law and banking regulation. she's a nationally recognized expert on payment systems. public and private methods to detect international money laundering and consumer protection and financial privacy. she works with privacy and cyber security issues and the use of mark marketing, consumer service. and we have anthony delipi. anthony is the co-founder and ceo of byte pay. mr. galippe foinded byte pay in 201. he has 15 years experience. he was district sales manager at industrial devices corporation. thank you for all of you for bringing your expertise. >
merkley joining the clamor to do something about this. no one has shown how you do something about the truly unfortunate cases without upending the entire insurance pool. this might be another one where the former president comes out clarifying. >> i spoke with senator merkley today and he explained he thinks if they were to pass something that would allow people to keep their, quote, insurance, they would find out how bad it is and eventually end up in the exchange. i have to disagree with that. the private insurance industry makes up only 5% of the american people anyway. so why not just get done with it and put standards on the industry they have to it live with and push forward? zerlina, it seems like the democrats are stumbling on the way they want to communicate this. >> i think they are stumbling and i hope that president clinton clarifies and this isn't some sort of 2016 triangulation, trying to distance himself from bad obama care news. one of the things that he said and one of the things that president obama said last week in his interview with chuck todd was that this sy
brought senator diane feinstein. she wrote this:and now democratic senator jeff merkley is going to sponsor this bill. what are we go make of this? these people voted for obama care. >> they did and they have been caught in an in consistency. they have known since 2010 when every single democrat in the senate voted against more flexible in the grand fathering provisions. everyone of them voted against it. senator mike ginsey created that. if you like what you have you can keep it just isn't true. but also for people with employer provided coverage as well. >> before i let you go, what kind of pressure does this put on the senate to consider these bills. we'll see what happens in the house. senator upton's bill. the white house is going to offer something which won't fix the problem but will give the appearance of doing something and it is up to harry reid to bring this bill to the floor and vote on it. i hope that it is successful but i think that the problems are baked in the cake. >> i will leave it there. >> good to see you senator. thank you so much for making yourself availa
starting to bail on this. >> we're starting to see early signs of that. and senator jeff merkley, who is not exactly a red state democrat from oregon, signed on to this plan that mary landrieu has been pushing that would essentially try to keep the promise that was made that americans would be able to keep their health insurance. senator fine tieinstein is also board with that. democrats just feel abandoned by the white house. they feel like they're not getting enough information, they feel like the white house has done a really poor job of this and that eventually they're the ones who will have to pay the price. after all, the president's approval rating, he may not be running for re-election again, but they certainly are. and it's going to hurt them if it keeps going this way. >> we'll see what kind of distance people start to makes a they gear toward 2014. casey, thanks so much for getting up early for us. >>> now for the philippines where president obama is urging all americans to come contribute to relief efforts. the president says some of the affected areas are islands that ame
you very much, professor. >> chairman merkley and members of the subcommittee, i am a partner at ballard spar and i am the head of our privacy and data security group. my testimony today reflects my personal experience with virtual currency industry. it does not necessarily reflect the opinions of ballard spar or our clients. thank you for this opportunity to testify. i currently work with a number of clients. the fact is it is like a lot of things that have happened in the past. so i'm going to two through some of the statements that i have in my testimony. but let's start with the discussion of currency generally in the united states. so the united states has a long history of currency. it finally settled down in the 1870s when the supreme court had a series of opinions. and basically, what they said at that time is we're going to stop all of this different stuff with the currencies happening. we're going to say there is a u.s. currency and everyone in the u.s. has to accept that currency. you have to accept u.s. currency. it is the currency of the land, et cetera. that's th
. >> thank you very much, professor. >> chairman merkley, ranking member keller, and members of the subcommittee, i am a partner at ballard spar and i am the head of our privacy and data security group.llm of o my testimony today reflects my personal experience with virtuay currency industry and represents my own opinion. it does not necessarily reflect the opinions of ballard spar or our clients. thank you for this opportunity to testify. i currently work with a number of clients. one of the things as i have been listening that i feel like it's worth saying is that one of the things that i often say with financial innovation is there's a tendency to say it's completely new. it's so new we have never seen anything like it before. the fact is it is like a lot of things that have happened in the past. so i'm going to go through some of the statements that i have in my testimony. but let's start with the discussion of currency generally in the united states. so the united states actually has a long history of currency. it finally settled down in the 1870s when the supreme court
, mr. chairman. >> senator merkley? >> thank you very much. i wanted to ask a couple things related to different forms of crimes that -- quote crimes thaa have occurred with bitcoins. the first thing i want to ask i there is a centralized public ledger that's encrypted. so the anonymity is only in ulyn terms of -- you're not truly anonymous. there is an encrypted version of who owns what. so one concern about the, if you will, the reliability of the currency is whether that encryption can actually be broken. so i want to ask that question. there are some very powerful code breakers in the world. and we certainly have cussio discussions about our own u.s. capability to break codes quite often up here. but the second is we've had this series of reported crimes. one was a bitcoin savings and trust which ran a pyramid scheme in bitcoins. we also had the hacking of a bitcoin exchange called bit floor. and as it was reported, 24,000 bitcoins were stolen.2 and we had instawallet, a wallet provider that was hacked and ed. they lost 35,000 bitcoins. these are not small dollar items given the
served it with their party in the minority. jeff merkley was elected in 2008 in push for the nuclear option. >> i think this is a terrific book for the u.s. senate. we have had a former paralysis that has inflicted this institution and has done great disservice to the american people. reporter: one former senator predicts that this will make the atmospre worse. >> the senate was designed to force people to work together and come up with consensus. democrats and republicans and a lot of that has fallen away and it's very polarizing. this decisioo that was made ere yesterday for to make it even more so. reporter: more critical swings to the right and depending on who is in power will make sennte election even more critical for next year's midterm. lori: thank you, mike emanuel. aecord day on wall street again. the s&p 500 closed at 1800. the dow jones gained 65 points. the s&p is up nine points. nasdaq closing 22 points higher. the dow jones d s&p 500 posting gains for the seventh straight week. indexes are plus 1% of the week. we are we're coming right back, so stawith us. >> preside
to thank senator merkley and senator baldwin who spearheaded this great passage today, and of course, senator kennedy is looking down from the heaven and smiling. we hope that we will give him want to smile about in the next few months. and here is the problem here. the house of representatives, speaker boehner has already said he won't give in to a vote. everyone talks about gridlock in washington. it rests with one man, speaker boehner. it is the broken card in our governmental wheel. nearly every time the senate passes senate passes a bill to my flickr banishing the issue to a faraway jail. and we hope and pray that enda will not suffer the same fate. but if the house of representatives does incest on going down this road, they will be sending their party street to oblivion. they have sat on a farm bill and an immigration bill an issue after issue. so the house seems to be the place where bipartisan senate deflation goes to die. we have my greatest votes today. our count kept going up, and it will continue to go out. why can't the house do the same thing. republicans in the house
is a better way of saying it. geoff merkley supported mary landrieu's ledge southlakes. the senate looking to protect their own. if the democrats are scared, this is how they are going to do it. one thing we cannot forget, though, is just because you have all of these democrats signing on to the legislation does not mean that harry reid is going to bring it to the floor for a vote and he ultimately is the one who is going to be a buck-stopping with harry once again. >> some white house officials who went to meet with the house democrats and apparently things got pretty ugly. >> they certainly did. the house democrats got furious at the whitehouse staff. they feel they had been misled, that the white house has not been fully truthful or honest. you see that reflected in the poles. those ratings for the president for the first time ever, a majority of mirandize say this trustworthy. >> that's very damaging. what's happening is something that did not happen in 2009 and 2010. democrats passed the affordable carry act by a party vote. no republicans voted for it. when they had an equally large
's shar rod brown, it's jeff merkley. it's a lot of snarts and a lot of sort of, i think, i guess it would consider them to be democratic a-listers who line up more on that side than the traditional prowall street track path. who championed the other side of it. did hillary clinton and if so who else? >> it remains to be seen. i mean hillary has obviously has a strong record fighting for kind of, you know, populist economic issues and universal health care in the '92 campaign is a very prosperous position. but there's no question that the clintons have been close to a number of wall street alumni over the years, the sort of intellectual descentants continue to be close to clinton to this day. then you have people you would expect, the people who in their own state, the financial sector is very strong, whether it's delaware and the senator is -- you know, south dakota where a lot of banks are located. you know, so it ends up being sort of the old story, the politics is local. but i think that's where we see it. it's interesting, this piece about elizabeth, when i speak with chris murphy it
that would leave a large number of troops in afghanistan. john merkley and mark begich, and as a condition for any american troop presence past 2014. this is the same coalition we saw during the syrian debate and the issue. this is the cautious isolationists. expect this coalition to continue challenging the status quo of foreign policy going forward. this isn't going to be an easy issue for the president to sell to the u.s. senate. that's it for this edition of "the daily rundown." we'll see you tomorrow. chris jansing takes the baton. bye-bye. i remember the day my doctor said i had diabetes. there's a lot i had to do... ... watch my diet. stay active. start insulin... today, i learned there's something i don't have to do anymore. my doctor said that with novolog® flexpen, i don't have to use a syringe and a vial... or carry a cooler. flexpen® comes prefilled with fast-acting insulin used to help control high blood sugar when you eat. dial the exact does. inject by pushing a button. no drawing from a vial. you should eat a meal within 5 to 10 minutes after injecting novolog® (insulin
democratic senators never served with their pert in the minority. jeff merkley was elected in 2008 and pushed for the nuclear option. >> this is terrific for the u.s. sn senate. it's done great disservice to the american people. >> one former senator predicts this would only make the atmosphere worse. >> the senate was designed to force people to work together, come up with consensus, democrats and republicans, liberals and conservatives. a lot of that has fallen away. it's very polarized and this decision made yesterday will make it more so. >> even more volatile shifts to the right and left based on who is in power will make senate elections more critical, particularly next year's midterm. shannon? >> mike, live on capitol hill, thank you mike. >>> the dow gained 55 to hit another record close today. the 41st for the year. the s&p 500 was up 9. nasdaq finished ahead 22.5. for the week, the dow was up 2/3 of a percentage point. the s&p 500 gained about a third. nasdaq up .14. >>> up next, the jfk assassination, 50 years later. we'll go live to dallas. here's what some are covering tonight. r
will be between myself, senator wicker, senator warren, senator cochran, senator hoeven, senator merkley, aid like to ask unanimous consent that we have the next 20 minutes to conduct this colloquy. the presiding officer: without objection. ms. landrieu: thank you. i really appreciate the courtesies of the manager of the bill on the floor, senator reed, and i really appreciate his courtesies because those of us that came to the floor today to speak about this issue are extreme extremely concerned about this problem that's presented itself based on a bill that was passed three years ago, two years ago, called biggert waters with all the best intentions a bill was passed two years to go oog to try to fix and reform and reauthorize the nation's flood insurance program, which is a very important program that allows millions of people that live not just along the coast but along our rivers and bayous and streams from coast to coast, inland and coastal communities, to live safely and to live affordably and to have flood insurance they can count on. that was the intention of the bill but, madam president
into the practical realities of what we are dealing with here. as this becomes a senator merkley suggested a common method of transmitting goods and services, payment of goods and services replacing a dollar bill or replacing a credit card which we now are long-standing methods. there are a tremendous number of challenges and not categorizing bad and i noticed both of you especially if jennifer had deferred that same thing. thank goodness we didn't have to achieve that result because we had enough broad authority that allowed us to pursue this. but let's take for example a bitcoin being used by -- how do you bring that up on the cash register? what is the sales tax on that? how do you reported for income tax purposes? how do you transmit it for purposes of payroll taxes? how do you deal with this when it becomes more commonly accepted method of transition -- transmission? what i'm saying is it's not just the that various groups, terrorists and illegal operations that have the potential of skirting around the edges. it is in fact the more commonly accept that it is in the more available all it becom
are anxious and jeff merkley said i don't think there's confidence by anyone in the room. is there any way for democrats to back up and insulate themselves from what might be or might not be backlash from the polls next year? >> i think they have plenty of time and i do not think that's necessary. i got hit hard coming home to arkansas for voting for part d of bush's medicare. the democrats hit merity hard then. i think i was one of 11 or 12 senators who voted with the president. i worked with the administration. we did our dog and pony shows with cms and hss folks and arkansas ended up being the top ten states for enroll lees for the prescription plans. it's hard to envision a health care plan for seniors without a prescription drug. it hard for us to see wing able to put our economy right if we continue to spend the money we do on health care, the percentage of our gdp and getting the same results we are. we have to start looking at how we'll make this thing work and come together and figure that out and i think that's what they are doing with the add minute -- administration. they heard
Search Results 0 to 49 of about 98 (some duplicates have been removed)